Topgolf Callaway Brands Corp (NYSE:MODG) price on Thursday, February 27, fall -4.12% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $6.52.
A look at the stock’s price movement, the close in the last trading session was $6.80. Turning to its 52-week performance, $16.89 and $6.11 were the 52-week high and 52-week low respectively. Overall, MODG moved -20.49% over the past month.
Topgolf Callaway Brands Corp’s market cap currently stands at around $1.20 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 1.08B for the company’s revenue for the quarter, with a low and high estimate of 1.06B and 1.1B respectively. The average forecast suggests down to a -5.79% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.13B, representing a -2.55% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MODG is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 5 recommend MODG as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MODG’s current price about -12.05% and -16.99% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.65, while 7-day volatility ratio is 7.65% and 5.59% in the 30-day chart. Further, Topgolf Callaway Brands Corp (MODG) has a beta value of 1.69, and an average true range (ATR) of 0.42. Analysts have given the company’s stock an average 52-week price target of $12, forecast between a low of $12 and high of $13. Looking at the price targets, the low is -84.05% off current price level while to achieve the yearly target high, price needs to move -99.39%. Nonetheless, investors will most likely welcome a -84.05% jump to $12 which is the analysts’ median price.
If we refocus on Topgolf Callaway Brands Corp (NYSE:MODG), historical trading data shows that trading volumes averaged 2.78 million over the past 3 months. The company’s latest data on shares outstanding shows there are 183.82 million shares.
The 28.87% of Topgolf Callaway Brands Corp’s shares are in the hands of company insiders while institutional holders own 69.57% of the company’s shares. Current price change has pushed the stock -17.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MODG stock continues to rise going into the next quarter.
